Skip to main content

Posts

Showing posts from March, 2022

Blockchain in Theory - Blockchain, Bitcoin, Mining

   Blockchain is the software protocol that tell the Internet how to transfer money and assets. Blockchain is the layer and Bitcoin is the application. Just one of many cryptocurrency kinds of applications. When one user send email to another then both users do not have to know about the underlaying process except email address. Similarly,  User don't need to know anything other than other user's wallet address to send some bitcoin or other cryptocurrencies.  Any file on Internet may have multiple copies but money is something that should not be copied multiple times. This has been a longstanding problem in computing networks namely the double spend problem. Satoshi Nakamoto introduced white paper for digital cash system in 2008 to resolve the double spending problem and fortified by a ledger which enforces the money is only spent once. It took 15 years alone for corporate email as the main application to be a standard thing in our lives. And similarly the money Internet block